Joshua Loucks

3 weeks ago | adamnmichel.substack.com | Adam Michel |Joshua Loucks

The Inflation Reduction Act (IRA) was pitched as a climate solution. In practice, it turned the tax code into a multi-trillion-dollar energy entitlement program, creating subsidies without caps, sunsets, or accountability. The recently passed House Ways and Means Committee tax bill repeals eight of the IRA credits, phases out five, and keeps or expands several others. The House tax bill is a modest step toward scaling back the IRA green energy subsidies, but it is not aggressive enough.